FOMC

Chair

Bitcoin

Read

Spot

Although Bitcoin, which started the new week with a decline, rose above $ 43,000 after the FED decision, it was not successful in holding on to these levels.
While BTC fell below $ 42,000 again in the evening, investors are wondering at what level BTC will close at the end of 2023 and whether the rise experienced last week will continue.
At this point, a new BTC prediction came from Deribit analysts.
Analysts stated that Bitcoin will probably remain at its current levels until the end of 2023 and explained the reasons for this.
Deribit analysts, who first stated that there was no big rise in Bitcoin despite the dovish statements of the FED, said that the second reason was that Tether reduced token printing.
<blockquote>
 “Despite our expectation that Fed Chair Powell would take a dovish tone at this week's FOMC meeting, Bitcoin failed to recover.
 This suggests that Bitcoin is tired and, as we noted earlier this week, the chances of another rally before January are slim.
 Apart from the FED, Tether's reduction of token printing also affects the upward momentum of BTC. Because the constant printing of Tether was a clear indication that corporate players were moving money from fiat money to crypto. The result was a Bitcoin rally that surprised almost everyone in the last two months.
 However, Tether's token issuance dropped from $1.6 billion weekly to $0.4 billion. This caused the inflows and the rise of Bitcoin to stop.”
</blockquote>
Analysts cited the possibility of delaying spot Bitcoin ETF approval until March as the final reason why they do not expect a rally in BTC until January. Analysts said, “Although we welcome another postponement of spot Bitcoin ETFs until March, there is always the possibility of approval of ETFs.” said.
Bitcoin continues to trade at $42,030 at the time of writing.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> likely range-bound till year-end; no rally despite expected dovish Fed tone.
 Halt in Tether minting affects bullish momentum.
 Anticipating Bitcoin Spot ETF delay till March; CME Bitcoin futures premiums adjusting.
 Read article from <a href="https://twitter.com/10x_Research?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@10x_Research</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/11lfxv0kfg" rel="noopener noreferrer nofollow">https://t.co/11lfxv0kfg</a>
 — Deribit Insights (@DeribitInsights) <a href="https://twitter.com/DeribitInsights/status/1735578858341200290?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/deribit-analysts-announce-their-two-week-expectations-for-bitcoin-rally-or-dump/" rel="noopener noreferrer nofollow">Deribit Analysts Announce Their Two-Week Expectations for Bitcoin: "Rally or Dump?"</a>

Deribit Analysts Announce Their Two-Week Expectations for Bitcoin: "Rally or Dump?"

Bitcoin Sistemi EN

Other articles published on Dec 15, 2023

Bitcoin ‘Cash Creates’ Model ETFs are a “Done Deal” Says Expert – Here’s What You Need to Know

Cryptocurrencies Trends to Be Aware of in 2024

PEPE Coin Price Prediction: A potential 40% Pump?

Hong Kong mobile network provider launches NFT marketplace

Bitcoin ETF Token Raises $4.1m But Selling Fast, Traders Grab Last Chance to Buy at Low Price

Ripple XRP Forecasted To Surpass its ATH of $3.40, Here's When

Join our free newsletter for daily crypto updates!